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RBA
RBA
RBA - RBA Holdings Limited - Operational update
RBA Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1999/009701/06)
(JSE code: RBA ISIN: ZAE000104154)
("RBA" or "the group")
OPERATIONAL UPDATE
The group wishes to update shareholders on the key operating indicators tabled
below as at 31 December 2011:
SNAP SHOT OF WORK IN PROGRESS AT THE As at As at As at
PARTICULAR POINT IN TIME 31-Dec-10 30-Jun-11 31-Dec-11
Deals submitted at banks awaiting bond 351 353 325
approval
Deals approved by banks awaiting 394 431 379
registration
Individual houses under construction 269 215 191
(excluding houses ready for occupation)
Equivalent houses under construction 184 131 161
As at 31 December 2011, RBA was awaiting responses in respect of 325
applications for end user finance that had been submitted to various financial
institutions.
As at 31 December 2011, 379 bond applications were approved and were awaiting
registration. Included in this figure of 379 are the 62 deals that were lodged
at the deeds office as at 31 December 2011.
Although sales activities have increased, the work in progress figures remained
stable year on year due to the fact that efficiencies were introduced to ensure
that work in progress translates into registrations and ultimately completed
houses in a shorter period of time.
DATA ILLUSTRATIVE OF THE GROUP`S 12 months 6 months 12 months
PERFORMANCE DURING THE RELEVANT TIME ending ending ending
PERIOD 31-Dec-10 30-Jun-11 31-Dec-11
Deals registered 468 215 590
Equivalent houses completed * 379 268 613
* "Equivalent houses completed" takes into account houses under construction at
the beginning of the period, registrations during the period and houses under
construction at the end of the period. It represents the number of equivalent
houses actually completed during the period.
The key indicator of improvement in the group`s performance year on year is
demonstrated by the data reflecting the "Equivalent houses completed" during the
12 month period ended 31 December 2011 which amounts to 613 houses as opposed to
379 houses for the period ending 31 December 2010.
RBA registered 590 deals during 2011 and had an additional 62 deals lodged at
the deeds office. This gives the group a total of 652 registrations/lodgments
for the period compared to our forecast of 700. This shortfall was caused by
attorneys failing to lodge transactions at the deeds office timeously before the
said office closed for the festive season.
Based on prevailing market conditions, RBA plans to register between 900 and
1000 deals during 2012. This figure excludes the 62 deals which were lodged and
carried over from 31 December 2011.
17 January 2012
Exchange Sponsors
Designated Adviser
Date: 17/01/2012 13:46:31 Produced by the JSE SENS Department.
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